4032 Richmond St NW · Walker, MI 49534

$329,900

5 bd · 2.0 ba · 1,787 sqft · SingleFamily public records · 1 Days on market

Built 1928 0.74 ac lot

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Why this score? — see what drove the D grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +13.4/30.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• DSCR +4.1/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hard to find almost 1 acre in the city of Walker. Have your own park in your back yard. Country meets modern, this 1 1/2 story home has all fresh paint and new flooring. Three bedrooms (1 up and 2 down), 2 half baths and 1 full bath. Nice size living room, formal dining room, kitchen with eating area. Upstairs has recreation area kitchen sink and 1/2 bath. Lots of storage space in the attic. Primary bedroom has a 3 season room attached. Main floor laundry. Showings to start Saturday morning. Property being sold as is.

Key facts

• Lots of storage
• Fresh paint
• New flooring

Tags

• ALMOST 1 ACRE
• OWN PARK
• FRESH PAINT
• NEW FLOORING
• RECREATION AREA
• LOTS OF STORAGE

Property features AI

Exterior

• Parking: Detached 1-car garage; Has garage
• Utilities: Natural gas connected; Cable connected; High-speed internet available
• Home design: Single-family residence; Residential property
• Construction: Built in 1928; Aluminum siding
• Exterior features: Corner lot; Paved road access; Public water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Forced air heating; Has heating
• Interior features: Replacement windows; 8 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $9 ($108/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (16.5% below list).
• Recommended offer: $275k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.1% in Walker — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 40% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $275,397 (16.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.33%
• Cash-on-cash: 0.12%
• DSCR: 1.01
• GRM: 10.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.87% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.58×
• Total profit: $-38,756
• Equity at exit: $49,189

10-year hold

• IRR: 3.8%
• Equity multiple: 1.34×
• Total profit: $31,134
• Equity at exit: $28,524

Cash invested: $92,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,754 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$299 /mo · $3,590/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $9

Break-even live

Break-even rent $2,743

Max offer price $329,900

Occupancy floor 95%

Sensitivity live

Price	-10% $196	-5% $102	+0% $9	+5% $-84	+10% $-178
Rent	-10% $-209	-5% $-100	+0% $9	+5% $118	+10% $227
Rate	-1.0pp $175	-0.5pp $93	base $9	+0.5pp $-77	+1.0pp $-163

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 Kusterer Dr NW Grand Rapids, MI	4.0	1.5	1788	$2,600	$1.45	44d	1	1.45mi

Listing history 2 events

1. 2026-06-17
   remarks 523-char remark

   Show marketing remark (523 chars)

   Hard to find almost 1 acre in the city of Walker. Have your own park in your back yard. Country meets modern, this 1 1/2 story home has all fresh paint and new flooring. Three bedrooms (1 up and 2 down), 2 half baths and 1 full bath. Nice size living room, formal dining room, kitchen with eating area. Upstairs has recreation area kitchen sink and 1/2 bath. Lots of storage space in the attic. Primary bedroom has a 3 season room attached. Main floor laundry. Showings to start Saturday morning. Property being sold as is.

2. 2026-06-17
   listed $329,900 Active 1 DOM

   Show marketing remark (523 chars)

   Hard to find almost 1 acre in the city of Walker. Have your own park in your back yard. Country meets modern, this 1 1/2 story home has all fresh paint and new flooring. Three bedrooms (1 up and 2 down), 2 half baths and 1 full bath. Nice size living room, formal dining room, kitchen with eating area. Upstairs has recreation area kitchen sink and 1/2 bath. Lots of storage space in the attic. Primary bedroom has a 3 season room attached. Main floor laundry. Showings to start Saturday morning. Property being sold as is.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $3,590 · $299/mo
• Projected year-2 tax: $4,335 · $361/mo
• Expected delta: +$745/yr (+$62/mo · 20.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,048
• − Mortgage interest: −$18,480
• − Property taxes: −$3,590
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,644
• − Management: −$2,644
• − Depreciation: −$9,597
• Taxable loss: −$5,556
• Est. tax savings @ 24.0%: +$1,333
• After-tax cash flow: $1,441/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 of 540 in MI

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

Amenities F Commute C Cost of living A+ Crime C+ Employment B+ Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 533,805 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 415.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• Metro: Grand Rapids-Kentwood, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-89.8% since first listed

4 events — show timeline

• 2026-06-17 Listed $329,900 REALCOMP
• 2026-06-17 Price Changed $329,900 SW Michigan MLS
• 2026-06-17 Listed $329,900 MiRealSource-MiMLS
• 2026-06-17 Listed $3,249,900 SW Michigan MLS

Property tax history

+8.7%/yr

Latest (2025): $3,590 · +69.8% YoY. Source: county tax records.